DUBUQUE, Iowa – Dubuque Teachers CU has rolled out Dwolla, the online, mobile, social and location-based payments application.
Members can access Dwolla through the credit union website.
After signing up for a Dwolla account -- a process estimated to take less than a minute -- members will be able to make payments to anyone with an email address, as well to as their Facebook and Twitter friends.
Dwolla's mobile app allows members to pay friends and merchants.
"Whether members want to pay the babysitter or the landlord, or even split the lunch tab with a friend without having to visit the ATM, Dwolla is the ideal tool for allowing them to move money quickly and easily,” said said Jonathon Miller, president of the $15 million credit union.
Dwolla transactions up to $10 are free, while those more than $10 are 25 cents regardless of the transaction amount.
Merchants have been attracted to Dwolla's low fees as an alternative to those they pay to accept credit and debit cards. Dwolla expects to add Dubuque merchants in the near future.